Guideline Value for MULLAI NAGAR EXTENSION -III

Mullai Nagar Extension -III guideline value

The current guideline value of Mullai Nagar Extension -III is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Vilvarayanalloor village, under the Madurandakam SRO, and is classified as Residential Special Type - I.

How the guideline value of Mullai Nagar Extension -III has changed

The guideline value for this street has seen several revisions over the years. In 2012, the value was set at Rs 200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 134 per sq.ft. However, it rebounded to Rs 200 per sq.ft in the 2023 revision, and this value has been maintained in the 2024 revision as well. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, there has been no change, maintaining the guideline value at Rs 200 per sq.ft.

Guideline values in Vilvarayanalloor

In Vilvarayanalloor, there are 23 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 101 to Rs 300 per sq.ft. The median value is Rs 200 per sq.ft, which is equal to the guideline value of Mullai Nagar Extension -III.

• Mullai Nagar II: Rs 200 per sq.ft (2024)
• Mullai Nagar: Rs 200 per sq.ft (2024)
• Malligai Nagar: Rs 200 per sq.ft (2024)
• Poonguzhali Amman Nagar: Rs 200 per sq.ft (2024)
• Prakash Park .. Malini Garden: Rs 200 per sq.ft (2024)
• Ramalingam Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nagar Extension -III

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value totals Rs 2,00,000. The stamp duty at 7% amounts to Rs 14,000, and the registration fee at 2% is Rs 4,000, making the total cost Rs 18,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mullai Nagar Extension -III?

The Sub Registrar Office that covers Mullai Nagar Extension -III is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vilvarayanalloor

The guideline value plays a crucial role during the registration process when buying or selling property in Vilvarayanalloor. It is used to determine the stamp duty and registration fees applicable to the transaction.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Mullai Nagar Extension -III?

The current guideline value of Mullai Nagar Extension -III is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft in 2012, 2023, and 2024, with a decrease to Rs 134 per sq.ft in 2017. There was a 49% increase from 2017 to 2023, but overall, from 2012 to 2024, the value has not changed.

What is the land classification of Mullai Nagar Extension -III?

Mullai Nagar Extension -III is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for Mullai Nagar Extension -III?

The registration office for Mullai Nagar Extension -III is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Mullai Nagar Extension -III?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 2,00,000 would incur a stamp duty of Rs 14,000 at 7% and a registration fee of Rs 4,000 at 2%.